Day: July 27, 2024

PARIS, Olympians, Assemble! As the approximately 10,500 athletes gather to do battle for the next 17 days, France put on a spectacular and unique opening ceremony that began with a floating parade along the River Seine and ended at the iconic Eiffel Tower, with the cauldron – a flaming hot air balloon – being lit in the Gardens of the Tuileries and rising majestically into the air. For the first time in the history of the Games, the opening ceremony was held outside the confines of a stadium, in the heart of Paris, watched by some 300,000 people from the

KUALA LUMPUR, Former National Unity and Community Development Minister, Tan Sri Dr. Siti Zaharah Sulaiman died yesterday at 11.23pm. She was 75. UMNO Supreme Council Member and Maran UMNO Division Chief, Datuk Seri Shahaniza Samsuddin made the announcement on her Facebook page. Siti Zaharah was former UMNO Wanita chief and Member of Parliament for Paya Besar. “May Allah bless her soul and place her among the righteous. “Over the years, she imparted countless advice and guidance to me, which I will hold dear as a source of inspiration and direction,” Shahaniza said. Meanwhile, Siti Zaharah’s eldest child, Timoer Dzakry Samarudin,

KUALA LUMPUR, Bursa Malaysia is expected to remain in consolidation mode, with an upside bias for the time being, until fresh catalysts emerge. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said that despite this short-term consolidation, the longer-term trend remains upward as the index still holds above the 50-day exponential moving average (EMA). “We reckon sectors to focus on for next week are plantation, energy, and banks due to their appealing valuations. “Therefore, we anticipate the index to fluctuate within the 1,605-1,625 range next week with the support level identified at 1,600, followed by 1,592,” he told

KUALA LUMPUR, The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to move in tandem with the underlying cash market next week. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng told Bernama that the market is expected to be in consolidation mode, with an upside bias. “Until a fresh catalyst emerges, the market seems to be stabilising within a certain range, showing resilience despite the recent declines,” he said. For the week just ended, spot month July 2024 declined 26.5 points to 1,613.5, August 2024 and September 2024 fell 25.5 points each

KUALA LUMPUR, The local rubber market is expected to experience sluggish demand next week, and prices are likely to be range-bound with a slightly higher bias, said industry expert Denis Low. He said the volatile weather conditions in rubber-producing regions would reduce rubber production and might trigger some stocking activity. ‘This will help push up prices as supply could be short,’ Low told Bernama. He also said the shipping disruption caused by the ongoing crisis in the Red Sea, along with the current geopolitical situation, has affected the supply chain. This may lead to volatile commodity prices as the ongoing